Virginia Commonwealth University, popularly known as VCU, came into existence in 1838 with a merger of two institutes – Medical College of Virginia and Richmond Professional Institute. The public institute is educating more than 3,200 students and is categorized as a research institute by the Carnegie Classification of Institutes of Higher Education. VCU is accredited with the Commission on Colleges of the Southern Association of Colleges and Schools to distribute certified bachelor, master and doctoral degrees. It has two physical campuses, MCV Campus and Monroe Park Campus, and six branch campuses and satellite locations. The institute has an established athletics program with 16 varsity games, each competing in the NCAA Division I.
About VCU Financial Aid
VCU financial aid program disburses funds in various federal and institutional loans, scholarships, grants, work study programs, veterans’ benefits, and an installment payment plan. VCU financial aid office aims to offer assistance to those students and families who wish to educate their children but find it hard due to financial constraints. Grants offered by the VCU financial aid program focus on need-based assistance. Applicants who succeed in proving their need for finances qualify for state and federal programs such as, TEACH, SEOG, CSAP, PELL, Commonwealth Award (CA), and Virginia Guaranteed Assistance Program (VGAP). Scholarship programs concentrate on academic excellence offered via various departments of the institute as well as federal and private scholarship program. Extensive federal loan opportunities are also available to VCU students. Moreover, off-campus and on-campus work study programs can help to cover a part of the cost of education.
Its Veteran Education Assistance program includes tutorial assistance or work-study program, provided one qualifies for it.
Installment Payment Plan is another of VCU financial aid program which allows students to pay the due amount in four installments each semester. This reduces the burden of paying a huge amount of money at once.
Applying for VCU Financial Aid
Prospective and current students need to submit the completed Free Application for Federal Student Aid (FAFSA) before the deadline, in addition to a few supporting documents. Aid is awarded according to the financial need of the applicant. Students who do not receive 100% aid can apply for other alternative fund sources. Those who qualify for federal financial aid need to maintain Satisfactory Academic Progress (SAP) to be able to continue to receive the aid.
Eligibility for VCU Financial Aid
Any applicant to the VCU financial aid program must be a legal US citizen with a valid Social Security Number and must demonstrate the need for finances to qualify for grants, especially. They need to be enrolled in an accredited American institute and maintain SAP to continue getting the aid. For veterans’ benefits, the applicant needs to be a military employee or have an immediate family member trying to seek education such as children or spouse. Students wishing to opt for the installment payment plan need to have an outstanding balance or tuition fee more than $ 100. A fixed amount of $ 25 will have to be paid alongside the installment to get the IPP by VCU Financial Aid.